This paper explores the impact of the terms of trade on output fluctuations in. - Colombia, a developing country where as much as 62% of export earnings come. - from just four commodities: oil (42%), coal (14%), coffee (5%), and nickel (1%). This. - research was prompted by: the particular role...

This paper explores the importance of the terms of trade to explain output fluctuations in Colombia, a developing country where almost 60% of the exports correspond to four commodities: oil (32%), coal (17%), coffee (5%) and nickel (2%), and where 80% of its imports are intermediate and capital...

En este trabajo se muestra que en Mexico la mayoria de las personas pertenecientes a familias de bajos ingresos, en especial las mujeres, tiene mayor participacion en el mercado laboral si los salarios reales disminuyen. Tambien se obtiene que la oferta laboral individual es sensible a la...

The post-1980 period has seen an across-the-distribution increase in the cash holdings of U.S. non-financial corporations and falling indebtedness among firms at the bottom 60% of the distribution. These trends are puzzling, given concurrent growth in the share of firms that generate...

Several recent empirical and theoretical studies have revived interest in the relationship between the level of the exchange rate and economic development. This paper develops a dynamic model based on the Ricardian framework with a continuum of goods to consider the issue from a somewhat...